Topic: another ATH , 71k and still climbing. - page 6. (Read 1459 times)

I have similar expectations but we need to understand that there has been no major correction of Bitcoin price we may see some swings but yes it will surely esd towards $80k and all it needs is a surge like we have witnessed in last few months and Bitcoin trending around $80k itself is a good sign of strong support. $100k definitely looks difficult before halving but eventually it will be breached.

You are giving too much credence to the ETF in my opinion, the market acted positively beyond the ETF inflow itself, but the market feelings (psychology). First, I do not know anyone who will take an advancing opportunity in the cryptocurrency space for granted, it is obvious that the ETF is a plus for Bitcoin and would help the price to rise no matter how little. Nonetheless, the thing I know is that the market acted purely psychologically in the second half of 2023 rather than what people think of it. Had it been the ETF was filed for approval in 2022, it would have been a different story compared to what happened in 20. The effect would never have been like what we witnessed, so giving too much credence to the ETF due to the FOMO in the market is not so worth it, the main credence should have been left for the true effect when there are inflows through the ETF companies.

For better clarity, the market is funny, could you believe that an ordinary rumour could be so impactful in the market that people would be so surprised at what happened? And when the main news comes out, the effect might be so minimal or insignificant. That's the market for you, it moves psychologically. Now, what happened last year was the situation of the ETF news meeting the preparedness of investors as Halving was fast approaching. The mood was already there, the ETF was just a catalyst even as it had not helped with a single ETF inflow then. The fact that people did not want to miss out on buying Bitcoin at a better price caused FOMO in the market at the time, which was what was responsible for the bull run we witnessed in the market. It was purely speculative and not about the ETF directly adding the money per se. Ever since, what meaningful inflow has the ETF attracted to the Bitcoin market? We should know the sentiment of the market from an event. Bitcoin is an open market that is very accessible, unlike Gold and others who need more of ETF. For me, the effect of ETF in attracting money to Bitcoin through the ETF company is what I am still doubtful to be as huge as people expected.

You got the answer right in your comment. Think about it, if the bitcoin ETF is not approved, large investment funds like Blackrock will not enter the market, we will not have large cash flows pouring into the market, so how can the price increase? Demand for bitcoin holdings has increased significantly due to the approval of bitcoin ETFs, both of which are closely related. The recent price increase of bitcoin is due to the impact of bitcoin ETFs, although many people do not like ETFs, we cannot deny this.

Bitcoin prices have seen a surge since the start of the year with Bitcoin ETFs. Where Bitcoin price this month has seen break its previous record and enter a new ATH. It cannot be ruled out that we will see Bitcoin hit $75k before the Bitcoin halving. More people are showing interest in investing in Bitcoin now than before. Due to the rising price, many people want to hold the coin and expect more price increase in the future. Many say that such increase is due to the approval of Bitcoin ETF, while others say that the value of Bitcoin is increasing due to the increase in the amount of Bitcoin holdings. What is the exact reason for Bitcoin's price increase? Many people can analyze it in different ways, but in my opinion, I can't find any correct explanation. I don't know what will happen next, but I want to witness the bull run ahead.

The impact of the ETF on bitcoin is huge and if this news is true, it is entirely possible that we will see bitcoin prices reach $80K or more very soon. But this also reminds me of something: in the past, many people thought ETFs were useless and they didn't take them seriously . But now what, everyone is watching the money flowing into bitcoin through ETFs every day as this is the biggest catalyst for bitcoin price to reach a higher ATH. I think the impact of the ETF has surpassed and is greater than the impact of the halving.

I think Bitcoin prices will continue to rise this year until they reach at least above $80k. I am optimistic because before the Halving occurred, Bitcoin had set an ATH record, which was in the price range above $73k. Therefore, when the Halving occurs, bitcoin has the potential to reach a price above $80k, it does not even rule out the possibility that the price of bitcoin will reach $100k, which is another new ATH record.

this is very good news can't wait for the day until quite literally bitcoin surpass everyone's expectation and reach that juicy $100k mark and then keep that as all time high, hopefully if worse come to worst
the floor price where its gonna bottom out gonna be around the previous all time high and we are finally on our way to 1 million dollar a bitcoin its gonna be huge.

considering that we haven't even pass halving event i see this as a quite rather promising future it definitely surpassed expectations of some.
remember guys from many technical analysis we're just shown that its just beginning of bitcoin to its rally around $100k or maybe more.
those that invested their money from all the way back then are definitely to harvest a bountiful harvest.
hopefully altcoin will also follow.

Since the creation of Bitcoin we have witnessed an extraordinary increase in the price of Bitcoin. Yes we have seen a new ATH record in the Bitcoin market this year which was previously in the history of Bitcoin in 2021. But this time the new ATH that Bitcoin touched was higher than the previous ATH. Rising Bitcoin prices encourage many holders to hold their Bitcoins for longer periods of time.In fact, if we hold a coin and the price of that coin increases a lot, we try to hold more and more of that coin. Similarly, many people are trying to invest or hold this coin according to their own ability to see the increase in the price of Bitcoin. It seems to me that there is no reason for the price of Bitcoin to rise. But many say that it may have been a short bull run in the market before the Bitcoin halving, which caused the price of Bitcoin to rise. Maybe the approval of Bitcoin ETFs could also be a reason for the rise in Bitcoin prices.

Pretty positive news.

With this news bitcoin is at this good level now bearable maybe to $75K will be at the beginning of April where this month is the halving for bitcoin.

Prices could even potentially be higher than now if the question of $75K might be considered small because with this news it will not have a significant impact but look after the halving I feel that the reaction will occur afterwards.

Yes, this is one that will probably impact the market as soon as possible. The fundamentals are getting better and I hope we will soon find a new ATH above $73k, but of course it is not certain whether the price will immediately rise or fall due to high selling pressure. There are a lot of large orders above $70k and that may make it difficult for the price to break through new resistance, but if demand is higher then the resistance will break.

For now it remains holding, no reason to sell even if $75k is hit late month or early April. Buy and hold is a great strategy to build a portfolio ahead of the halving, but I think everyone should be careful of false swings.

Yes bitcoin price dumped a few days ago just after that bitcoin reached ATH level again now bitcoin price is around $70k. Bitcoin will not stop here but its value will reach 100000$ in few days. Now it appears that the halving is just a few days away, which will cause Bitcoin to halve its value, which will pump up the Bitcoin market a lot. Currently those who are holding bitcoins till now should never sell bitcoins like this but hold it when the time is right and sell when it crosses $100k and make a nice profit. I think the price is really going to be 100k dollars.

Oh thanks mate for sharing this news, and most likely this is very bullish again as we have seen the prices climbing back to $71k after some minor correction in the last 2 weeks that even push the price to a low $62k, and then it went up to $70k, then go on $69k. So yeah, it has a decent to huge impact, so let's see, we are almost at the end of the month but still weeks for the halving. And with this kind of news, maybe we will still see another push for a new all time high, it could be $74k-$75k. We will see how the bulls are going to fuel the market again with this rumors from Morgan Stanley.

Potentially bullish rumours on the Morgan Stanley ($150 billion market cap investment bank)  filed with SEC to buy Bitcoin ETFs with 12 of their funds.
The speculation is that they will also allow Bitcoin spot ETFs to be traded on their platform, which potentially could have a decent impact on the price.
More details:
https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-defends-69k-amid-rumors-of-morgan-stanley-approving-btc-etfs-on-its-platform-202403271900
https://twitter.com/BTC_Archive/status/1772978686133768479

If true, this has the potential to tip the price over $75k.

I believe continue hodling will make people  to see $75 very soon because, that is the target of many hodlers that are still hodling their BTC and it look like this current move will make such price to hit the market before the end of this year.

When the price fall down to $65k few days ago, many people thought that the bull run has ended until another pump occur few minutes ago for the price of BTC to hit back $71k to encourage hodlers to endure with their hodling because, the price will continue pumping until they are satisfy with the price of their choice.

Bitcoin broke the Bitcoin market's highest ATH record several times this March. But that record didn't last long, instead the market started dumping again. However, despite staying above 74 thousand dollars, the market has come down to 64 thousand dollars again. Bitcoin may not break another ATH record before April's halving. Bitcoin may cross the 100k milestone by the end of this year.

Obviously such a situation can be justified that Bitcoin could be at an even higher price level even reaching $100K because $73,777 is the current highest price before the halving.
Facing a situation like this, we need good planning without panicking when prices suddenly decrease. For us, corrections that occur like now are normal and some of us had expected this decline to occur.

I think it will pass $100,000, but I don't know when that will happen. If the current high of $73,777 has been bearish for a long time, perhaps after the halving an increase will occur and it will reach $100,000 as a new high.

Everyone knows the reason of this recent bitcoin pump, rather I would say that bitcoin has been pumping even before the ETF. After the ETF, we had a major correction where bitcoin went below 40,000$ but after that, we have seen no correction and bitcoin has crossed the All time high too and still no correction.

Bitcoin can go even higher, crossing 75K$, 80K$ and more but there has to be a time when we need a big major correction in order to make this pump a sustainable one. No one knows when we can see this dump but I think those who are waiting to enter in the market, they should wait for a dump. Do you think we would cross 100,000$ without a correction???

If you previously said is anyone wondering what will happen after this, then the situation now seems to have started to reverse from producing a slowly decreasing ATH.
This is where good planning is needed when facing two different situations in a short time. It raises the question of what steps I will take when market conditions improve and what steps I will prepare when the market suddenly moves down.

You are right that everything cannot be predicted easily by market conditions. It really requires a mind full of awareness in dealing with circumstances that change suddenly like now. In 24 hours, the market price of Bitcoin decreased by almost 7% after reaching a high of $73,777 yesterday.

What about now , is this the big correction today as the price drops badly to 67k https://coinmarketcap.com/currencies/bitcoin/  and are you keeping to Hold guys? because I have decided to keep my coins now since my target is 80k to release my coins but now that its not coming maybe I will continue keeping till 2025.
Those are the people that is now blaming themselves from not trusting bitcoin and will keep feeling sadness .

So you are counting the number of times that Bitcoin has breached the ATH and moved below it? Well, you can't get the accurate counting ever this way. How you can make the countable counting is for you to make sure that there was a daily close above the level. You can count how many daily closes to ensure that a true break is enforced. For now, there have been five daily closes above the level, which is so important, though there are both bullish and bearish candlestick closes above it, regardless, it means that the bullish trend is intact, so we should expect more bullish surprise overtime and not a serious dump.

Besides, there is one powerful indicator called "Trend Magic" whose support level on the daily chart is situated at $67,929. It will take Bitcoin to break below it and have a sustainable bearish close below the level before I will take any bearish trend in the form of correction seriously in this wider bullish scope of the coin. If this level is not breached lower, of course, the $75,000 you mentioned would be unveiled in little time. It remains a few bucks for the level to be hit this week as the ATH of the week is almost $74,000. But this time, Bitcoin might need more like news and serious positive events to get the job done quickly as the FOMO is somewhat fading at this time.